UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Exact Name of Registrant; State of Incorporation; Address and Telephone Number of Principal Executive Offices I.R.S. Employer Identification No. 001-32 ...

Comcast (CMCSA) reported third-quarter 2024 adjusted earnings of $1.12 per share, which beat the Zacks Consensus Estimate by 5.66% and increased 3.7% year over year.Consolidated revenues increased 6.5% year over year to $32.07 billion and beat the Zacks Consensus Estimate by 0.86%.CMCSA shares were up more than 4% in pre-market trading. On a year-to-date basis, shares have lost 3.7% compared with the Zacks Consumer Discretionary sector’s appreciation of 5.4%.CMCSA’s Quarter DetailsComcast lost 87K domestic ...

NBC-parent Comcast is exploring spinning of its struggling cable networks business, including left-leaning MSNBC, President Mike Cavanagh said Thursday. Cavanagh revealed during the third-quarters earnings call that the media giant is mulling the creation of a “new, well-capitalized company owned by our shareholders and comprised of our our strong portfolio of cable networks.”The cable networks include MSNBC, CNBC, Bravo, E!, Syfy, USA Network and Oxygen True Crime. 3 Comcast president Mike Cavanagh said ...

KEY TAKEAWAYSComcast on Thursday said in its third-quarter earnings call that it is considering spinning off its cable network portfolio into a separate company.The separation would not include the broadcast network NBC or streaming platform Peacock, Comcast president Mike Cavanagh said in the call.The company, which is struggling with cord-cutting, also reported mixed third-quarter results that included a year-over-year loss of 365,000 cable customers. Comcast (CMCSA) on Thursday said in its third-quarter ...

Financial Data and Key Metrics Changes - Total revenue increased by 6.5% to $32.1 billion, driven by NBCUniversal's successful airing of the Paris Olympics, with revenue excluding the Olympics remaining relatively flat year-over-year [20] - Total EBITDA decreased by 2% to $9.7 billion, while free cash flow generated was $3.4 billion, returning $3.2 billion of capital to shareholders, including $2 billion in share repurchases [21] - Adjusted EPS growth in the quarter was 3%, supported by a 6% reduction in share count over the last 12 months [21] Business Line Data and Key Metrics Changes - Connectivity & Platforms revenue was consistent year-over-year at $20.3 billion, with residential connectivity revenue growing by 5%, driven by 3% growth in domestic broadband and 19% growth in domestic wireless [22][23] - Content & Experiences revenue increased by 19% to $12.6 billion, while EBITDA decreased by 9% to $1.8 billion, primarily due to lower attendance at domestic parks compared to last year's record highs [34] - Media revenue surged by 37% to $8.2 billion, largely due to the Paris Olympics, which generated $1.9 billion in revenue, including a record $1.4 billion in advertising revenue [37] Market Data and Key Metrics Changes - Domestic broadband reported a net loss of 87,000 subscribers, impacted by the end of the Affordable Connectivity Program (ACP), but would have shown a positive addition of 9,000 subscribers without this impact [23][25] - Domestic wireless revenue growth was driven by service revenue, with customer lines increasing by over 1.2 million or 20% year-over-year, reaching a total of 7.5 million [26] - International connectivity revenue grew by 8%, reflecting strong ARPU growth, while business services connectivity revenue also grew by 5% [28][29] Company Strategy and Development Direction - The company is focused on convergence, combining high-speed internet with wireless services, and has extended its network to over 1.2 million additional homes and businesses in the last year [5][6] - The upcoming Epic Universe theme park is expected to transform Universal Orlando into a week-long vacation destination, with significant pre-opening costs anticipated [11][35] - The company is exploring the potential creation of a new well-capitalized company to manage its cable networks, indicating a strategic review of its media assets [17][46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining a leadership position in convergence and anticipates continued growth in broadband and wireless services [27] - The competitive landscape remains intense, particularly in broadband, but management is optimistic about subscriber retention and growth in Q4 despite challenges from recent hurricanes [52][54] - The success of the Paris Olympics has set a positive tone for future events, with management looking forward to leveraging this momentum for upcoming broadcasts [71][73] Other Important Information - The company returned a total of $3.2 billion to shareholders in the quarter, including $2 billion in share repurchases and $1.2 billion in dividends [42] - The company is investing heavily in its growth businesses, including broadband network upgrades and the development of the Epic Universe theme park [15][41] Q&A Session Summary Question: Strategic reviews on the media side - Management clarified that the review focuses on cable portfolio networks and not on Peacock or broadcast assets, indicating a desire to explore potential opportunities for creating a new company [46] Question: Fourth quarter broadband subscriber growth - Management noted that while the competitive environment remains intense, they are optimistic about subscriber retention and growth in Q4, despite the absence of back-to-school seasonality [54] Question: Theme park capacity and pricing strategy for Epic - Management indicated that Epic will be priced at a premium, aiming to optimize the overall Orlando experience while managing crowd levels [60] Question: Impact of fiber competition on ARPU - Management stated that while fiber competition affects market share, ARPU levels remain consistent across fiber and non-fiber markets due to effective segmentation strategies [77] Question: Profitability from the Olympics - Management confirmed that the Olympics were profitable, exceeding expectations in viewership and ad sales, contributing positively to the company's overall performance [71] Question: Video offering evolution - Management emphasized a focus on segmenting the marketplace to provide tailored video offerings, leveraging strong content and customer experience [88]

Cable TV networks look like they're in permanent decline.So Comcast, which owns a bunch of them, is proposing splitting them into a separate company.Warner Bros. Discovery made a similar pitch this summer, then backed away from it. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go ...

For the quarter ended September 2024, Comcast (CMCSA) reported revenue of $32.07 billion, up 6.5% over the same period last year. EPS came in at $1.12, compared to $1.08 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $31.8 billion, representing a surprise of +0.86%. The company delivered an EPS surprise of +5.66%, with the consensus EPS estimate being $1.06.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how th ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...

Comcast has begun to explore a separation of its cable networks business.During Thursday's earnings call with investors, Mike Cavanagh, president of Comcast, said the company is exploring creating "a new, well-capitalized company owned by our shareholders and comprised of our strong portfolio of cable networks."This is breaking news. Please refresh for updates. ...

Comcast (CMCSA) came out with quarterly earnings of $1.12 per share, beating the Zacks Consensus Estimate of $1.06 per share. This compares to earnings of $1.08 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.66%. A quarter ago, it was expected that this cable provider would post earnings of $1.11 per share when it actually produced earnings of $1.21, delivering a surprise of 9.01%.Over the last four quarters, the company ha ...